Boston, MA 04/09/2014 (wallstreetpr) – Sorrento Therapeutics Inc. (NASDAQ:SRNE) is currently trading below its 50 day and 200 day moving average at $11.87 and $9.21 which is a bearish sign when it comes to short term traders.
Short term traders can go short on this stock with a stop loss level at $9.10 with a target of $7.86.
Traders with high risk appetite can go long on this stock as the RSI has entered oversold zones and can see a bounce but should maintain a tight stop loss at $7.86 and a target of $11.00.
Positional traders can short the stock if it closes below $8.92 on a weekly basis for targets of $6 in the short term
Kingold Jewelry Inc. (NASDAQ:KGJI) is currently trading at lows and below its 50 day and 200 day moving averages at $1.73 and $1.57. Short term traders can buy small quantities at the current levels because we might see a bounce from such oversold regions. It is Imperative for traders to keep a strict stop loss at $1.10 and keep targets at $1.4. Positional traders, on the other hand, can short the stock with a stop loss at $1.52 and targets of $0.96 as momentum indicators have given a sell sign.
Voxeljet AG (ADR) (NYSE:VJET) has broken below all supports and is also below its 50 day moving average at $31.44.The stock has its relative strength index in the oversold area, and we believe we might see a bounce from these levels albeit a small one to levels of $23.50 in the short term.
Traders can take a very small long position for the above mentioned target with a very strict stop loss at $19.80.Positional traders if long in the stock can keep holding onto their positions but should have a strict stop loss at $18
